Regular Session News #12: Mid-way through session, RTW bills continue to move

May 4, 2018

Week in review

HB 34 (Rep. Pearson) achieved House concurrence this week. This bill would allow state and statewide retirement systems to allocate a portion of their investments to a terror-free fund rather than a terror-free index fund as currently required by law.
 
TRSL is now monitoring a new House concurrent resolution, HCR 82 (Rep. Bagley), filed Monday, which would create a task force to study issues relative to the employment of retired teachers to meet teacher shortages in public schools. It awaits discussion in the House education committee.

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Coming up next week

The Senate retirement committee is scheduled to meet to meet at 12:30 p.m., Monday, May 7. The following return-to-work bills affecting TRSL are on the agenda:

• HB 13 (Rep. Miller) would add presenter of professional development to the list of “re-employment eligible positions” allowing retirees to return to work and continue to receive a benefit check (after the required waiting period), subject to a 25% of annual benefit earnings limit. 
• HB 696 (Rep. Pearson) would add tutor for any student in Pre-K through twelfth grade to the list of “re-employment eligible positions” allowing retirees to return to work and continue to receive a benefit check (after the required waiting period), subject to a 25% of annual benefit earnings limit. 
• HB 14 (Rep. Smith) would do the following:
  • Add interpreter, educational transliterator, or educator of the deaf or hard of hearing and full- or part-time pre-K teachers to the list of “re-employment eligible critical shortage positions” allowing retirees to return to work without a reduction of benefits (after the required waiting period and certification of shortage);
  • Add clerical office positions in K-12 schools to the list of “re-employment eligible positions” allowing retirees to return to work (after the required waiting period), subject to a 25% of annual benefit earnings limit; and
  • Add retirees who have been retired for at least five years to the definition of “re-employment eligible retiree” who can return to work (after the required waiting period) without a reduction of benefits. This would replace the current law’s grandfather provision requiring retirement on or before June 30, 2010.

Also, the following bills awaiting final passage in the House may be called for a vote next week:

• SB 4 (Sen. Peacock) would restrict the duties of Board-appointed actuaries to actuarial matters and would reaffirm the ability of state and statewide retirement systems to appoint independent actuaries.
• SB 6 (Sen. Peacock) would prohibit a TRSL member with at least five years of TRSL service credit from retaining membership in TRSL if they move to a position covered by the Clerks' of Court Retirement and Relief Fund.
• SB 13 (Sen. Peacock) would remove the Public Retirement Systems' Actuarial Committee (PRSAC) from the state Department of Treasury and would restrict chair and vice-chair duties on PRSAC to the Senate President and House Speaker or their designees. 
• SB 17 (Sen. Peacock) would create consistency among state and statewide retirement systems in the application of state and federal law related to military service credit purchases.

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A complete list of legislation affecting TRSL, along with the positions taken by the TRSL Board of Trustees for each bill, is available on the legislation page of our website, www.TRSL.org.
 

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Tune in & watch live: You can watch live retirement committee meetings online at www.legis.la.gov. Click on the TV icon for any meeting in progress that you'd like to view. Archived broadcasts are available here